TrueCrypt is a proprietary (although its source code is available) software application used for real-time on-the-fly encryption. It can create a virtual encrypted disk within a file or a device-hosted encrypted volume on either an individual partition or an entire storage device. It supports Microsoft Windows, Mac OS X and Linux (using FUSE) and encrypted volumes can be made portable. The version for Windows Vista or XP can encrypt the boot partition or entire boot drive and has the ability to create and run a hidden encrypted operating system whose existence is deniable.
In Ubuntu especially, it's the easiest to install as compared to other Linux distro's. You just have to download the deb file from the download page. Extract it in your computer and just double-click or run the .deb file.
And voila, you have a running truecrypt. Congratulations!
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